Stretch Your Dollar: Staying on top of money scams during the pandemic

Stretch Your Dollar

Wear your mask – keep six feet – and now pay extra attention to your money. They’ve been using the pandemic as an entry point.

American Banker’s Association’s Paul Benda warns the pandemic has created an opportunity for people hoping to steal your money.

Fraudulent claims went up drastically when economic stimulus payments were going out.

“You saw a flurry of emails go out – ‘Hey give up your payment information and social, and we’ll tell you when your payment comes,’ and it’ll look like it’s coming from the treasury or the bank.”

Remember that as lawmakers work on another economic stimulus package. They are preying on your fears of the virus. Be wary of this as covid vaccine trials get underway.

“We expect when the vaccine comes out, there will probably be e-mails saying here sign to be prenotified when the vaccine comes out, and we’ll have it delivered, things like that.”

Benda says scams like this have given up by 300% – 400% over the last six months.

They want you to act quickly, so talk to your loved ones and be sure everyone is on high alert and careful not to give any information out. If you do accidentally give out your information, notify your bank immediately. Remember it’s not just your money – it’s their money they want to protect so they’ll do everything they can to help you.

But to save yourself the headache, educate yourself on the latest scams at banksneveraskthat.com.

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